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LivingSocial Posts Net Loss Of $650 Million For 2012

livingsocial, gonabit, middle east, daily deals, group buying, dailydealmedia, dailydealmedia.comDaily deal site LivingSocial revealed today that the company posted a net loss of $650 million last year, according to regulatory filings. This was hugely impacted by the declining value of several different companies that were purchased to encourage global expansion.

The Washington D.C. based company saw its revenue stream climb to $536 million last year, more than double than the year prior. However, the company did post a net loss of $499 million in 2011.

The earnings were disclosed in an Securities and Exchange Commission filing for Amazon.com, which owns 29 percent of the firm. As a private company, LivingSocial does not disclose its own financial figures.

Source: Washington Post


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The 2014 Edition of the DDM Daily Deal Publisher Directory is the most comprehensive contact list for daily deal sites, flash retailers, aggregators and individuals operating in the daily deal industry. Each record includes the following: - Company Name - Website - Contact Name - Contact Title - Email - Phone - Address (not all records contain a full mailing address)
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